Lending

Steve Von Sickler, SVP and chief lending officer for Red Rocks Credit Union here, is also chairman of the ACUMA Regulatory Compliance Committee that drafted an extensive response to the NCUA's request for comment on subprime lending. The recently released Interagency Statement on Subprime Mortgage Lending, he said, "included most...

Kinecta Federal Credit Union has purchased Carson, California-based Nix Check Cashing for approximately $45 million. Nix parent company Navicert Financial, Inc. will first be housed under a credit union CUSO, Kinecta Alternative Financial Solutions, Inc., but will eventually be folded into the credit union as a division.

Now, this is not an article reprinted from the American Journal of Medicine, but a serious question for the credit union system concerning mortgage lending.

No one still wants to talk about the meltdown at Cal State 9 Credit Union here, particularly since NCUA's recent warning about subprime real estate lending. But it's evident that regulatory special actions are being taken because the CU has provisioned $17 million for loan losses for the quarter ending...

Mortgage loan broker Yamila Ayad has been in business for nearly 20 years in San Marcos, located about 40 miles north of downtown San Diego. She's well established in a growing Hispanic marketplace, and her small, bustling office handles as many loans as some mid-sized credit unions--she closed nearly 50...

As some predict tightening of loans to small businesses, entrepreneurs might want to consider credit unions as an alternative, Mike Schenk, CUNA senior economist, suggested in today's <em>Wall Street Journal</em>.